Crestwood Midstream Partners Announces Increase in Quarterly Distribution
and Conference Call Schedule
Earnings Release and Conference Call Scheduled for February 26
Business Wire
HOUSTON -- January 23, 2014
The Board of Directors of Crestwood Midstream GP LLC, general partner of
Crestwood Midstream Partners LP (NYSE: CMLP) (“Crestwood Midstream”) announced
that it has declared the partnership’s quarterly cash distribution of $0.41
per limited partner unit ($1.64 annually) for the quarter ended December 31,
2013, representing the seventh consecutive distribution increase. The
distribution will be paid on February 14, 2014, to unitholders of record as of
February 7, 2014.
Crestwood Midstream and Crestwood Equity Partners LP (NYSE: CEQP) each plan to
report financial results for the fourth quarter 2013 on Wednesday, February
26, 2014, before the New York Stock Exchange opens for trading. Following the
announcement, management will host a joint conference call for investors and
analysts at 10:00 a.m. Eastern Time (9:00 a.m. Central Time) that day to
discuss the operating and financial results. The call will be broadcast live
over the internet. Investors may participate either by phone or audio webcast.
Dial 480-629-9692 at least 10 minutes before the call and ask
By Phone: for the Crestwood Earnings Call. A replay will be available for
7 days by dialing 800-406-7325 and using the access code
4665006#.
Connect to the webcast via the “Presentations” page of
Crestwood’s Investor Relations website at www.crestwoodlp.com.
By Webcast: Please log in at least 10 minutes in advance to register and
download any necessary software. A replay will be available
shortly after the call for 90 days.
About Crestwood Midstream Partners LP
Houston, Texas, based Crestwood Midstream (NYSE: CMLP) is a master limited
partnership that owns and operates midstream businesses in multiple
unconventional shale resource plays across the United States. Crestwood
Midstream is engaged in the gathering, processing, treating and compression of
natural gas; transportation and storage of natural gas; transportation,
fractionation, storage, and terminalling of NGLs; and gathering, storage and
terminalling of crude oil. Prior to the merger of Crestwood Midstream Partners
LP into Inergy Midstream, L.P., which was completed on October 7, 2013, the
partnership was named Inergy Midstream, L.P. and was traded on the New York
Stock Exchange under the ticker symbol “NRGM.”
About Crestwood Equity Partners LP
Houston, Texas, based Crestwood Equity Partners LP (NYSE: CEQP) is a master
limited partnership that owns the general partner interest, including the
incentive distribution rights and an approximate 4% limited partner interest
of Crestwood Midstream. In addition, Crestwood Equity’s operations include a
natural gas storage business in Texas and an NGL and crude oil supply and
logistics business that serves customers in the United States and Canada.
Prior to October 7, 2013, Crestwood Equity Partners LP was named Inergy, L.P.
and was traded on the New York Stock Exchange under the ticker symbol “NRGY.”
Forward-Looking Statements
This press release may include certain statements concerning expectations for
the future that are forward-looking statements as defined by federal law. Such
forward-looking statements are subject to a variety of known and unknown
risks, uncertainties, and other factors that are difficult to predict and many
of which are beyond management’s control. These risks and assumptions are
described in Crestwood Midstream’s annual reports on Form 10-K and other
reports that are available from the United States Securities and Exchange
Commission. Readers are cautioned not to place undue reliance on
forward-looking statements, which reflect management’s view only as of the
date made. We undertake no obligation to update any forward-looking statement,
except as otherwise required by law.
Tax Notice to Foreign Investors
This release serves as qualified notice to nominees under Treasury Regulation
Sections 1.1446-4(b)(4) and (d). Please note that 100% of Crestwood
Midstream’s distributions to foreign investors are attributable to income that
is effectively connected with a United States trade or business. Accordingly,
all of Crestwood Midstream’s distributions to foreign investors are subject to
federal income tax withholding at the highest effective tax rate for
individuals or corporations, as applicable. Nominees, and not Crestwood
Midstream, are treated as the withholding agents responsible for withholding
on the distributions received by them on behalf of foreign investors.
Contact:
Crestwood Midstream Partners LP
Mark Stockard, 832-519-2207
Vice President, Investor Relations
mstockard@crestwoodlp.com